By Emma Ockerman

The US economy added 172,000 jobs in May, blowing past expectations, according to the government's closely watched jobs report. The unemployment rate remained flat at 4.3%.

Economists surveyed by Bloomberg had anticipated payroll growth of 88,000 for the month.

April's jobs report — which itself was a massive beat — was also revised to show an even better 179,000 jobs gained, compared to the 115,000 reported earlier. March's payroll growth was also updated to show 214,000, bringing the first monthly gain above 200,000 since early 2024.

As Yahoo Finance covers the rising cost of living coupled with a challenging job market, we're looking to hear from real workers about what they earn — and whether it's enough. Reach out to emma.ockerman@yahooinc.com to share your story.

Data on private payroll growth from ADP already showed some strength for May: Private employers added 122,000 jobs for the month, with hiring taking place across eight of the 10 supersectors ADP tracks. A month earlier, job openings soared to 7.62 million, a sharp increase from March.

Still, hiring declined in April, federal government data showed, and the increase in openings was concentrated in the professional and business services sector. The Federal Reserve's Beige Book for May, released Wednesday, also noted that "employment showed little to no change" in 11 of the Fed's 12 districts.

"Most Districts described a low-hire, low-fire environment, with workers increasingly reluctant to change jobs because of economic uncertainty," the report noted. "Hiring remained selective and primarily focused on critical roles or attrition replacement."

Emma Ockerman is a reporter covering the economy and labor for Yahoo Finance. You can reach her at emma.ockerman@yahooinc.com.

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